Dubai
Azizi Developments continues its billion-dollar run... the developer will be pumping in an additional Dh9.1 billion into UAE real estate during 2018. The company’s budget for the next year has been approved.
“Our developments will include new residential projects in upcoming locations and community-style projects in high-potential areas across the city,” said Farhad Azizi, CEO. “Our priorities for 2018 are to... maintain a healthy balance sheet and capital discipline. The sooner we can achieve our long-term goal; the sooner we can further grow our business, build on the success of 2017, and work to exceed next year’s goals while remaining a construction-driven real estate company.”
This year has seen it being particularly active, including launching two multi-year projects at Meydan. The waterfront project Riviera is valued at Dh12 billion and the Victoria twice that.
The developer also has projects on the ground at Al Furjan and on the Palm Jumeirah. “While 2017 was one of the busiest years for us operationally, we expect to see further business growth and development in 2018 – especially as we near the commencement of Expo 2020,” said Azizi.
